UFP Technologies, Inc. (UFPT) Upgraded to Buy by Zacks Investment Research

Zacks Investment Research upgraded shares of UFP Technologies, Inc. (NASDAQ:UFPT) from a hold rating to a buy rating in a research note released on Saturday. They currently have $30.00 price objective on the industrial products company’s stock.

According to Zacks, “UFP TECH., INC. designs and manufactures a range of high-performance cushion packaging and specialty foam and plastic prods. for the industrial and consumer markets. UFP also designs precision moulded fibre packaging prods. made from recycled paper. “

Shares of UFP Technologies (UFPT) traded up $0.45 during mid-day trading on Friday, hitting $26.80. The stock had a trading volume of 10,505 shares, compared to its average volume of 18,515. UFP Technologies has a twelve month low of $22.95 and a twelve month high of $31.50. The stock has a market capitalization of $194.77, a P/E ratio of 24.59 and a beta of 0.18.

UFP Technologies (NASDAQ:UFPT) last issued its quarterly earnings results on Thursday, November 2nd. The industrial products company reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.13). UFP Technologies had a net margin of 5.43% and a return on equity of 6.83%. The business had revenue of $35.68 million for the quarter, compared to analysts’ expectations of $38.70 million. sell-side analysts forecast that UFP Technologies will post 1.12 EPS for the current fiscal year.

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Hedge funds have recently modified their holdings of the company. CAPROCK Group Inc. purchased a new position in shares of UFP Technologies during the third quarter valued at $243,000. OxFORD Asset Management LLP grew its holdings in shares of UFP Technologies by 166.2% during the second quarter. OxFORD Asset Management LLP now owns 47,601 shares of the industrial products company’s stock valued at $1,347,000 after buying an additional 29,716 shares in the last quarter. Eagle Global Advisors LLC purchased a new position in shares of UFP Technologies during the second quarter valued at $216,000. Cubic Asset Management LLC grew its holdings in shares of UFP Technologies by 1.4% during the second quarter. Cubic Asset Management LLC now owns 42,999 shares of the industrial products company’s stock valued at $1,217,000 after buying an additional 605 shares in the last quarter. Finally, Anchor Capital Advisors LLC purchased a new position in shares of UFP Technologies during the second quarter valued at $758,000. Institutional investors and hedge funds own 68.63% of the company’s stock.

UFP Technologies Company Profile

UFP Technologies, Inc is a designer and custom converter of foams, plastics, composites and natural fiber materials. The Company is engaged in providing solutions to customers primarily within the medical, automotive, consumer, electronics, industrial, and aerospace and defense markets. It converts these materials using laminating, molding, and fabricating manufacturing technologies.

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